Kushner Family Closes Deal to Unload 666 Fifth Avenue

The record $1.8 billion real-estate investment became controversial when Jared Kushner joined the Trump White House

By

Peter Grant

Updated Aug. 3, 2018 4:24 pm ET

The Kushner family has closed on a deal to unload its office tower at 666 Fifth Avenue, a building it bought at the top of the market that was ailing financially.

In a larger-than-expected deal, the New York real-estate family has agreed to lease the building to Brookfield Asset Management for 99 years, according to a Brookfield statement that confirmed earlier reporting by The Wall Street Journal.